POSCO Labor and Management Finalize Wage Agreement with 110,000 Won Base Pay Increase... 72% Approval Rate

POSCO's labor and management have concluded negotiations for the 2025 wage and collective bargaining agreement.

On September 13, the POSCO Labor Union, affiliated with the Korean Metal Workers' Federation under the Federation of Korean Trade Unions, announced that the provisional wage and collective bargaining agreement reached with the company had been approved, with 71.76% of union members voting in favor.

The agreement includes an increase of 110,000 won in base salary, a 2.5 million won contribution for competitiveness enhancement, a 4 million won employee stock ownership acquisition subsidy, and a 500,000 won local community gift certificate.

The agreement also introduces a new Productivity Incentive (PI) system, unifies the wage structure that previously differed based on the time of joining the company, and expands the right to suspend work in order to strengthen workplace safety.

The POSCO Labor Union reached a provisional agreement with the company on September 5. Labor and management plan to hold a signing ceremony for the agreement on September 17.